News

ICICI Prudential Asset Management Co. announced that the 33rd Annual General Meeting(AGM) of the company will be held on 24 June 2026.

Prudential plc (Prudential), a leading insurer and asset manager in Asia and Africa, on 17 May 2026 announced that as part of a strategic repositioning of its India operations it has agreed to acquire a 75% stake in Bharti Life Insurance Company (Bharti Life), a prominent Indian life insurer, from Bharti Life Ventures and 360 ONE Asset Management (360 ONE). Completion of the transaction remains subject to receipt of regulatory approvals and the satisfaction of other conditions. Anil Wadhwani, Prudential plc`s CEO said, India is a strategically important and exciting market for Prudential. By acquiring a controlling stake in Bharti Life, we are� bringing together Prudential`s nearly 180 years of global insurance expertise and Bharti`s strong and growing local presence to serve the savings and protection needs of Indian consumers. Through this acquisition, we aim to contribute further to The Viksit Bharat Initiative and, by extending access to our products and services to customers in India, act as a catalyst for achieving `Insurance for All by 2047`. Our joint partnership with the ICICI group of companies, has, for many decades, provided high-quality financial services solutions in India. We deeply appreciate this partnership and value our relationship with them. As part of the transaction, Bharti Life will also look into securing strategic distribution agreements with Bharti Airtel and 360 ONE. Following completion, Prudential`s Indian operations will consist of majority -owned Bharti Life Insurance Company and Prudential HCL Health Insurance, and minority shareholdings in two listed entities, namely 35% of ICICI Prudential Asset Management Company and 22% in ICICI Prudential Life Insurance Company (ICICIPru Life).Regulatory approvals for the transaction are expected to require Prudential to reduce its shareholding in ICICIPru Life to under 10%. Prudential is engaging with the relevant regulatory authorities on this process and will seek an appropriate timeframe for the divestment that may be required, in the interests of its shareholders. Separately, Prudential continues to progress toward regulatory approvals for its standalone, majority-owned health insurance business in India. Health insurance operations are expected to commence during 2026 on receipt of these approvals.The transaction is for an initial cash consideration of ~Rs 3,500 crore (c. $389 million) payable on completion. The transaction will be funded from existing resources. The transaction is expected to deliver compelling strategic and financial benefits for Prudential over time. Further details will be provided when regulatory consent has been received for the transaction. It is expected that part of the proceeds from any divestment of ICICIPru Life will be used to support future growth in the business. The residual capital would contribute to Prudential`s free surplus. There is potential additional consideration payable of up to ~Rs 700 crore (c. $78 million), dependent on the fulfilment of certain conditions.

ICICI Prudential Asset Management Co. announced that the Board of Directors of the Company at its meeting held on 13 April 2026, inter alia, have recommended the final dividend of Rs 12.4 per equity Share (i.e. 1240%) , subject to the approval of the shareholders.

Net profit of ICICI Prudential Asset Management Co rose 10.37% to Rs 763.42 crore in the quarter ended March 2026 as against Rs 691.71 crore during the previous quarter ended March 2025. Sales rose 19.53% to Rs 1517.01 crore in the quarter ended March 2026 as against Rs 1269.19 crore during the previous quarter ended March 2025.For the full year,net profit rose 24.43% to Rs 3298.26 crore in the year ended March 2026 as against Rs 2650.66 crore during the previous year ended March 2025. Sales rose 23.10% to Rs 5764.63 crore in the year ended March 2026 as against Rs 4682.78 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales1517.011269.19 20 5764.634682.78 23 OPM %76.4770.47 -74.4971.33 - PBDT1066.20940.41 13 4512.353618.44 25 PBT1038.57916.86 13 4406.843533.05 25 NP763.42691.71 10 3298.262650.66 24 Powered by Capital Market - Live News

ICICI Prudential Asset Management Co. will hold a meeting of the Board of Directors of the Company on 13 April 2026.Powered by Capital Market - Live News